When you ordered a set of blueprints from eplans.com, you knew you'd have to work with a builder to transform those two-dimensional plans into a home. What you may not have originally realized was just how many additional professionals would be involved throughout this home-building process. Along with your builder, some other key players may include subcontractors, a local architect, a mortgage broker, an interior designer, planning and zoning officials, and city or town inspectors.
Construction cannot begin without adequate financing. Since the average homeowner doesn't have several hundred thousand dollars laying around at his or her disposal, the necessary funds can be obtained by taking out a mortgage. By working with a mortgage broker or banker, you can secure a Construction Mortgage, which will finance your project. Typically with this type of mortgage, the bank advances money to the homeowner in partial payments (who passes it on to the builder) as various stages of construction are completed.More